It seems as though the speculation surrounding Albertsons and its prospective acquisition of the Price Chopper chain has finally come to a close. Financial sources close to the matter have disclosed that Albertsons has dropped its pursuit of the matter.
According to the Times Union, Albertsons is no longer eyeing Price Chopper to focus on a possible upcoming IPO instead of an immediate expansion. Previously, Albertsons was considering the acquisition with a price tag of upwards of $1 billion.
Albertsons’ IPO focus could potentially raise $1.7 billion towards a future expansion, to further bolster the chain’s current 2,200 store status. The Times-Union also stated that Albertsons could have stopped pursuing its offer for Price Chopper as soon as last month.
Price Chopper, according to the Times Union, declined to comment on Albertsons speculative involvement or respective pull-out and stated, "We don't comment on rumors," as said by Price Chopper spokeswoman Mona Golub.
Had Albertsons acquired Price Chopper, the chain would have added 135 northeastern locations to the Albertsons footprint. Price Chopper boasts an annual revenue of $3.6 billion.
Is the Price Chopper chain still up for grabs? As the buy-side sector considers future acquisitions and expansion plans, Deli Market News will continue to report.
